Something to consider when selling your BTC...

coolcoinz

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Quote from: vapourminer on February 21, 2021, 07:26:45 AM

Quote from: In the silence on February 20, 2021, 11:57:49 PM

Some of the bitcoin holders were on a panic selling because bitcoin is getting more and more higher value than we expect from previous years of its existence. Those who have their own bitcoin on their wallet should spend wisely from time to time so that they can still use bitcoin in the future with a great amount since the last BTC will be mined in 2140.

ive been selling into this latest bull run, many of us have and do sell on these bull runs.. and with no intention of trying to buy back lower although it happens sometimes. dont ever forget to pull some profit when the good times are rolling.

its a balancing game, long term btc vs fiat for near term. just be aware you most certainly will have another bear season. dont get stuck selling btc at a horrible price if something unexpected is needed and you need to pull from your reserve stack.

personally however i think this party is just getting started.

It doesn't look like 60k is going to be the top. The price is creeping up too slow for it to be the end. Usually when it's about to pop it explodes and breaks down within a day. For instance, we had a small attempt to take profit today and everything got bought up instantly. The buyers are still very strong. Makes me think when the fear is going to start settling in. Maybe at 80k? Maybe at 100k? I have to say that I've been waiting 7 years to see a run like this one and it was so worth it.

ChronoGN

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It doesn't hurt to diversify though.
If your portfolio is getting too BTC heavy, you can sell some to rebalance into alt coins or stocks or whatever.
I believe in Bitcoin but I don't want 100% of my assets to be in BTC just incase something like cracking of SHA-256 happens.

Ryker1

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Well, be contented if you get profit like 10x fold, that is something I consider when I selling my bitcoin and it does not matter if there is a whale or not who is playing the market. How lucky you are if you had held in that long a gained too much profit, there is no point to be much greedy at all. The risk is there when you have bought during this bull run, but as I said when your profit was there don't hesitate to sell if you needed but if not, --just hold as much as you can. Because for me, you can store this for a long term and bitcoin always have a new ATH and selling when it comes a perfect time much better.

molsewid

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Quote from: Poker Player on February 21, 2021, 09:35:52 AM

Quote from: virtualdn on February 20, 2021, 03:15:09 PM

In other words do not give everything to the big whales and try to remain in this select club because once you do it you may not be able to take them back. You may think you can but most probably you won't.

I see many people worried about the big whales nowadays but let's not forget that they are playing an important role in the rise in price. If Bitcoin ever gets and surpassed $1M they have will played an important role. Not everything is bad about them.

I am more worried about my bitcoin plan than about them.

As i also believe so, i am thinking also does bitcoin will come to a point that it would have a scarcity in a supply of a cryptocoin and does it is limited to certain number only? But i didn't came to a conclusion that i would blame the whales, institutions or average people who are now owning a large number of bitcoin because it is true that they are the reason for the big price hike of bitcoin. Though we are also part of the reason for a good market value of bitcoin but the positive fluctuations of bitcoin can ne related to them the big whales who trusted to invest a much capital to bitcoin.

vintages

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In some ways, whales are also important for the growth of Bitcoin, though to some extent. We shouldn't make it sound as if Bitcoin is made specifically for some people, it is for everyone.
The only thing we should consider is that whales shouldn't influence others on their decision of whether to purchase any cryptocurrency or not to.

Asuspawer09

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Quote from: virtualdn on February 20, 2021, 03:15:09 PM

The number of companies and institutions owning BTC will get larger and larger and the number of people holding a nice amount of BTC will get smaller and smaller.

In other words do not give everything to the big whales and try to remain in this select club because once you do it you may not be able to take them back. You may think you can but most probably you won't.

The last BTC will be mined in 2140. This coin is here to stay for you and your kids and your grandsons. Don't get too emotional by the price fluctuations, don't have weak hands and never get greedy

When tesla announces the bitcoin investment we see how it affects the market, and we could expect more of that if giants companies also invested in bitcoin.

Something like Apple investing in bitcoin could easily pump the market price of bitcoin up to a 100k$ range, we could imagine like Microsoft, Walmart, etc. would invest and try to adopt as well in bitcoin.

Bitcoin is still in the process of growth and development, for now, it's always a HODL when you buy bitcoin because we could always expect the price to pump at some point.

Oshosondy

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The answer is easy as I said before. Cash out if you really need the money to buy a car or a house or something else of higher importance. Don't cash out to keep them in the bank. Those money are doomed to inflation.

This is a nice statement, those that hold since 2019 are not gainers, while those that have their money in banks would have lost to inflation because the price would have reduced, what fiat can do this year, more will be needed to do it next year, I do not know other countries, but it is like that in my country, Fiat is the most deceiving inflationary currency have ever known.

MWesterweele

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Quote from: hatshepsut93 on February 21, 2021, 10:11:45 AM

Right, money isn't just for hoarding, it's for spending too, and with this bull run a lot of people can use their new wealth to achieve some of their goals, like buying a house, a car, taking a trip, even just buying a new phone.

Also, everyone is forgetting that Bitcoin is a high-risk investment, so it can make sense to sell a portion of your BTC and invest in something less profitable but more reliable - this way instead of checking the price every 20 minutes and worrying if it will crash or not, you can be making guaranteed profits.

Everyone are aiming to get a proper or much better a higher profit in selling bitcoin. But we can't deny that the demand of bitcoin today gets high and as long as the huge personality of rich man in the world are keeping on promoted which every member of the society are wanted for bitcoin to be known by a lot of people and became a business method of payment, salary and so on. But for me this time isn't a perfect timing to sold bitcoin. If you can still handle your family need dont ever touching or selling your bitcoin or it os better to keep it on your wallet

decodx

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Quote from: eaLiTy on February 21, 2021, 07:53:59 AM

Quote from: virtualdn on February 20, 2021, 03:15:09 PM

The number of companies and institutions owning BTC will get larger and larger and the number of people holding a nice amount of BTC will get smaller and smaller.
In other words do not give everything to the big whales and try to remain in this select club because once you do it you may not be able to take them back. You may think you can but most probably you won't.

With the price of BTCitcoin moving higher it is hard for any normal citizen even with upper middle class salary will be able to invest for an entire BTCitcoin and only the rich and institutional investors can afford to acquire an entire BTCitcoin and it is not a big surprise, if you were smart enough to invest when the price was low then you could have made a fortune and the coins once sold at lower valuation is gone forever as you cannot expect the price to be below $5000 even during a bear run.

And why would it be so important to own the whole bitcoin?
If you want to invest in gold, would you always buy a whole kilo (currently about the same value as 1 BTC)?

panganib999

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Quote from: vapourminer on February 21, 2021, 07:26:45 AM

Quote from: In the silence on February 20, 2021, 11:57:49 PM

Some of the bitcoin holders were on a panic selling because bitcoin is getting more and more higher value than we expect from previous years of its existence. Those who have their own bitcoin on their wallet should spend wisely from time to time so that they can still use bitcoin in the future with a great amount since the last BTC will be mined in 2140.

ive been selling into this latest bull run, many of us have and do sell on these bull runs.. and with no intention of trying to buy back lower although it happens sometimes. dont ever forget to pull some profit when the good times are rolling.

its a balancing game, long term btc vs fiat for near term. just be aware you most certainly will have another bear season. dont get stuck selling btc at a horrible price if something unexpected is needed and you need to pull from your reserve stack.

personally however i think this party is just getting started.

Actually it is the idea of the trading we need to consider in selling our bitcoin because we all know that all of us are working because we need to earn money or make profits for our daily needs. I think as this user stated and you will also hear this idea of selling in others. They all sold their bitcoin in the highest price like in the all time high as much as possible because in that case, they can earn a lot more bigger than their expected income or value of their bitcoin. And sometimes there are instances that when they sold their part is that it will continue to raise the price and they will have some regrets, right? But for me, I can say that it is okay because profit is profit and many people have difficulties in earning profits and we all know that we are all lucky that we have some bitcoin.

hatshepsut93

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Quote from: vapourminer on February 21, 2021, 07:26:45 AM

ive been selling into this latest bull run, many of us have and do sell on these bull runs.. and with no intention of trying to buy back lower although it happens sometimes. dont ever forget to pull some profit when the good times are rolling.

Right, money isn't just for hoarding, it's for spending too, and with this bull run a lot of people can use their new wealth to achieve some of their goals, like buying a house, a car, taking a trip, even just buying a new phone.

Also, everyone is forgetting that Bitcoin is a high-risk investment, so it can make sense to sell a portion of your BTC and invest in something less profitable but more reliable - this way instead of checking the price every 20 minutes and worrying if it will crash or not, you can be making guaranteed profits.

Poker Player

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Quote from: hatshepsut93 on February 21, 2021, 02:52:47 AM

Why should you care who holds Bitcoin - institutions, whales, or average people?

I was going to say this.

Quote from: virtualdn on February 20, 2021, 03:15:09 PM

In other words do not give everything to the big whales and try to remain in this select club because once you do it you may not be able to take them back. You may think you can but most probably you won't.

I see many people worried about the big whales nowadays but let's not forget that they are playing an important role in the rise in price. If Bitcoin ever gets and surpassed $1M they have will played an important role. Not everything is bad about them.

I am more worried about my bitcoin plan than about them.

eaLiTy

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Quote from: virtualdn on February 20, 2021, 03:15:09 PM

The number of companies and institutions owning BTC will get larger and larger and the number of people holding a nice amount of BTC will get smaller and smaller.
In other words do not give everything to the big whales and try to remain in this select club because once you do it you may not be able to take them back. You may think you can but most probably you won't.

With the price of BTCitcoin moving higher it is hard for any normal citizen even with upper middle class salary will be able to invest for an entire BTCitcoin and only the rich and institutional investors can afford to acquire an entire BTCitcoin and it is not a big surprise, if you were smart enough to invest when the price was low then you could have made a fortune and the coins once sold at lower valuation is gone forever as you cannot expect the price to be below $5000 even during a bear run.

vapourminer

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what is this "brake pedal" you speak of?

Quote from: In the silence on February 20, 2021, 11:57:49 PM

Some of the bitcoin holders were on a panic selling because bitcoin is getting more and more higher value than we expect from previous years of its existence. Those who have their own bitcoin on their wallet should spend wisely from time to time so that they can still use bitcoin in the future with a great amount since the last BTC will be mined in 2140.

ive been selling into this latest bull run, many of us have and do sell on these bull runs.. and with no intention of trying to buy back lower although it happens sometimes. dont ever forget to pull some profit when the good times are rolling.

its a balancing game, long term btc vs fiat for near term. just be aware you most certainly will have another bear season. dont get stuck selling btc at a horrible price if something unexpected is needed and you need to pull from your reserve stack.

personally however i think this party is just getting started.

Kakmakr

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OP, you are 100% correct. The Institutional giants are just entering the scene now, so it is still early days. When PayPal starts opening it's global merchant network for Bitcoin payments and sites like Amazon start accepting Bitcoin... it will easily go up to $100k per coin.

Now, be warned... I am not saying it is going to happen, but PayPal have dropped some hints that it may go that route... depending on global regulation requirements.

I think we should move some coins to cold storage and just leave it there.... if and when the Moon comes... we will be ready. Wink

The Cryptovator

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There is 2 type of sell, one is for your need and 2nd is sell for trade. I know it's better if you can hold bitcoin. But the question is how long? Bitcoin already above $50K which is a large amount. Should you wait for $100K or more? I mean we are involved with Bitcoin for our life, it could change our life. But if you hold it for a lifetime then how it would change your life? Most probably your next generation would enjoy your bitcoin. So I am on the trend that I have been selling Bitcoin wherever they need to live. Doesn't matter the price. I know it's hard to buy back, but keep in mind about 2017. It's was back to $3K. I am not telling just sold all of your assets, but sell when you need it for real life, and the rest keep on hold. If someone selling for trade, then that is a different story. If holders hold all bitcoin by holder then are you believe the market situation will be like this?

hatshepsut93

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Why should you care who holds Bitcoin - institutions, whales, or average people? Just focus on your own money. If you think that you can sell high and buy low, then do it, you will have more Bitcoin. If you think you can't, then just HODL. There's no a single correct way to be exposed to Bitcoin, it depends on many factors.

hongchao123

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Sometimes profits really needs to be taken. And if person needs his money now he should sell btc instead of taking a loan

Wexnident

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Quote from: Rruchi man on February 21, 2021, 01:56:14 AM

I am very curious please, you sound so sure, afyer the last btc in mined in 2140, what next?

Miners would be paid based on transactions most likely, and they'd probably be reduced by quite a bit depending on how much the influence of Bitcoin has in society. After that, well, the market would gradually (if not already) start being steady, reducing the issue of volatility that most people have right now. Nothing goes up forever after all. Though I hardly doubt it'd actually take that long for it to stabilize tbh, since by the next few halvings, the amount mined would be quite small to even influence the supply market in the short run. Long term, it'd probably take till the last coin was mined if it was actually to create a ripple.

KyoRider

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Quote from: virtualdn on February 20, 2021, 03:15:09 PM

The number of companies and institutions owning BTC will get larger and larger and the number of people holding a nice amount of BTC will get smaller and smaller.

In other words do not give everything to the big whales and try to remain in this select club because once you do it you may not be able to take them back. You may think you can but most probably you won't.

The last BTC will be mined in 2140. This coin is here to stay for you and your kids and your grandsons. Don't get too emotional by the price fluctuations, don't have weak hands and never get greedy

I agree! While time passed by, bitcoin wont go away it will just have its price go higher and higher and 6 digits soon enough, 2021 is a good year for crypto as everyone can see! We are on bullish part and many are selling

Topic: Something to consider when selling your BTC... (Read 338 times)